Financial Performance - Revenue for the year ended December 31, 2023, was HKD 1,391,960, representing a 30.5% increase from HKD 1,066,247 in 2022[4] - Profit attributable to owners of the company increased by 81.1% to HKD 83,142 from HKD 45,898 in the previous year[4] - Basic earnings per share rose by 72.2% to HKD 10.59 compared to HKD 6.15 in 2022[4] - Gross profit for the year was HKD 195,292, up from HKD 165,331 in 2022[7] - Operating profit increased to HKD 123,386 from HKD 78,147, reflecting strong operational performance[7] - Total comprehensive income for the year was HKD 68,958, compared to a loss of HKD 16,310 in the previous year[7] - The company reported a net profit before tax of HKD 109,624,000 for the year, up from HKD 76,807,000 in the previous year, reflecting an increase of approximately 42.6%[74] - Profit attributable to the company's owners rose by 81.1% from HKD 45.9 million in 2022 to HKD 83.1 million in 2023, mainly due to increased revenue and government subsidies offset by higher financial costs from expanded bank borrowings[115] Assets and Liabilities - Non-current assets increased to HKD 1,212,973 from HKD 966,263, indicating growth in long-term investments[8] - Current assets decreased to HKD 1,120,370 from HKD 1,337,733, primarily due to a reduction in inventory[8] - Total equity rose to HKD 1,225,283 from HKD 1,150,490, reflecting improved financial stability[8] - The total assets of the company as of December 31, 2023, amounted to HKD 2,332,891,000, an increase from HKD 1,800,000,000 in the previous year[77] - Total liabilities decreased to HKD (1,108,060,000) in 2023 from HKD (812,824,000) in 2022[79] - As of December 31, 2023, the company had net current assets of HKD 213.0 million and cash and cash equivalents of HKD 206.5 million[158] Revenue Breakdown - The energy storage business generated external customer revenue of HKD 356,057,000, up from HKD 271,682,000 in the previous year, reflecting a growth of about 31.1%[70] - The EPC services segment reported external customer revenue of HKD 572,000,000, a decrease from HKD 626,096,000, indicating a decline of approximately 8.6%[70] - Revenue from customers in China reached HKD 962,301,000, up from HKD 749,296,000, indicating a growth of approximately 28.4%[76] - Revenue from the Canadian market increased by 38.2% to HKD 376.0 million, compared to HKD 272.1 million in the previous year[134] - Revenue from photovoltaic film surged to HKD 363.5 million, a 372.1% increase from HKD 77.0 million in 2022[135] Expenses and Costs - Research and development expenses rose to HKD 32,039,000 in 2023, compared to HKD 22,035,000 in 2022, indicating a focus on innovation[85] - Financial costs, including bank loan interest, surged to HKD 27,966,000 in 2023 from HKD 11,763,000 in 2022, indicating increased borrowing[85] - Administrative expenses rose from HKD 78.1 million for the year ended December 31, 2022, to HKD 120.7 million for the year ended December 31, 2023, mainly due to increased employee benefits and R&D expenses[146] - Sales and marketing costs increased from HKD 18.9 million for the year ended December 31, 2022, to HKD 35.6 million for the year ended December 31, 2023, primarily due to an increase in average employee numbers and related expenses[146] Corporate Governance and Compliance - The company has complied with the corporate governance code applicable to GEM listed companies throughout the year ended December 31, 2023[58] - The group has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which do not impact the consolidated financial statements[20] - The group has reviewed its accounting policy disclosures and found them consistent with the relevant revisions[24] Market Expansion and Future Plans - The company has plans for market expansion and new product development in the energy storage and photovoltaic sectors[70] - The company aims to expand its energy storage business and enhance R&D capabilities to capture growth opportunities in the energy storage sector[153] - The company plans to continue developing photovoltaic film products and improve quality and performance in response to market demand[155] - The company has identified multiple target markets for overseas expansion, including Indonesia, South Africa, and the Philippines, to develop related businesses[156] Employee and Workforce - As of December 31, 2023, the group had 597 full-time employees, an increase from 518 as of December 31, 2022, with total employee costs amounting to HKD 144.4 million, up from HKD 104.4 million in the previous year[49] Other Financial Information - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[50] - The company received government grants totaling HKD 60,740,000 in 2023, a significant increase from zero in 2022, supporting operational costs[83] - The deferred tax expense for 2023 was HKD 12,959,000, slightly down from HKD 13,654,000 in 2022, reflecting stable tax management[87]
信义储电(08328) - 2023 - 年度业绩